Poker players are interested in cryptocurrency trading

As winning at poker becomes harder and harder, and the edges of the regulars erode more and more, cryptocurrency trading is gaining popularity among the poker community.

Many professionals believe that speculating in this relatively new market offers advantages equal to, if not greater than, those of poker. This article will explore this.

The rise in the value of Bitcoin was great news for the poker sites that accepted the cryptocurrency, as well as for the players who bought it. Over the past few weeks, the price of Bitcoin has risen another 30%, from $1800 to $2500 per Bitcoin. Apparently, the success of Bitcoin will be transferred to a number of other cryptocurrencies, in particular Ethereum (ETH). Therefore, poker players better equip themselves with the following information to make the most of this boom.

High roller Charlie Carrel is one of the many poker stars who chose to invest their earnings from the poker tables and try their luck in the cryptocurrency market:

Can anyone tell me where I can buy more Ethereum? I already have an account on Coinbase, now I'm looking for quick ways to buy without site restrictions.

I would buy some Ethereum myself as after your last post “Where can I buy Bitcoin” the price skyrocketed 175% in a week or two.

While Ethereum hasn't yet reached the staggering price of Bitcoin, its growth in recent weeks and months has been just as significant, if not more so. Less than three months ago, Ethereum was available for just $17. On April 24, ETH was worth $53; two weeks ago, it was $89. Ethereum's current price is around $222.

Poker forums like 2+2 have dedicated entire threads to Ethereum, usually reserved for poker strategy. These have now been replaced with pages of cryptocurrency trading strategies, including advice on positions, exit strategies and determining EV.

It's going to be a hot week. I miss the game. But I invested in everything and I’m just dragging along. 

All I can say is I bought 1000 Ethereum when it was still $10. Sometimes the risk is worth it. Although I haven't sold it yet.

What will you do with two long positions open at 130 usd and 0,0575 btc? I have now invested 100% of my stack. Liquidation at 70 usd and 0.03 btc, respectively. The interest rate is quite high: 0,15% usd and 0,05% btc (every day). I'm thinking of waiting a week or two. Most likely, by this time they will gain in price. 

Much of the excitement stems from the fact that the cryptocurrency markets are still considered very young, and that the real value of ETH and BTC may be significantly higher than the current market value. Although BTC is valued at $2500, some commentators have put its true value at up to $40000 per bitcoin, and these are not recent predictions. Cameron Winklevoss (famous for receiving a multimillion-dollar payout from Mark Zuckerberg after claiming the Facebook boss stole his and his brother's idea) made this prediction back in 2013, when the price of BTC was just $120, and he was far from the only one.

Of course, that doesn’t mean there aren’t skeptics or concerned traders who compare the current cryptocurrency surge to the dot-com boom of 2000, when thousands of new online trading companies skyrocketed in value, only to collapse like a house of cards shortly afterward when their true value was determined. A cryptocurrency “bubble” is a very real risk that anyone looking to trade currencies should be aware of.

However, there are other experts who downplay this risk. One of the 2+2 forum participants noted that at the time of writing (about 2,5 weeks ago), the total market capitalization of all cryptocurrencies was $68 billion, while the dot-com crash took place at $3 trillion ($4,25 trillion in today's dollars) money). This suggests that there is still room for growth in cryptocurrencies and opportunities for traders to make profits. The same forum member quotes a prominent Silicon Valley VC who predicts that Ethereum's market cap ($12 billion at the time of writing) will eventually overtake Bitcoin ($32 billion at the time of writing).

Source: pokeroff.ru